Business

PH Trade Fair And The Economic Mix Grill

Published

14 years ago

December 23, 2009

The 5th Edition of the Port Harcourt International Trade Fair, has made remarkable improvement when compared with previous editions. This is the opinion of some market operators and the organizers of the event, the Port Harcourt Chambers of Commerce, Industry, Mines and Agriculture (PHCCIMA).

Though, both the organisers and some of the operators share a common idea, that all sales in the Trade -Fair has over 20 per cent discount compared to the open market prices.

Some exhibitors came from far North, West and some neigbouring states, life Bayelsa, Imo, Abia and others.

In the views of the 2nd Deputy President of PHCCIMA, Dr. Renny Cookey, the 5th Port Harcourt International Trade Fair as organised by his organisation, is getting better and better over the years. The highlight of this year’s edition he said, was the opening ceremony which was formerly launched by the Rivers State Governor, Rt. Hon. Chibuike Amaechi, who was ably represented by his Commissioner for Commerce, Hon (Chief) Ogbonna Nwuke last week.

Dr. Cookey, hinted that the opening ceremony was followed by a meeting with the Minister of Commerce and Former Governor of Imo State, Chief Achike Udenwa.

According to him, Udenwa spent about two days at the Trade Fair. He said the minister’s main campaign during his two day stay was “much noise about the promotion of made in Nigeria goods.”

The PHCCIMA boss admitted that the patronage of made in Nigeria goods are of a low patronage, saying that they are substandard.

Another reason he gave for the low patronage of made in Nigeria goods was orientation. He argued that people still believe that anything that is imported is of a superior quality to the made in Nigeria goods.

He explained that some of the products exhibited in this year’s Trade Fair are or a better standard but people still do not like or buy them simply because it is branded made in Nigeria but when rebranded made in Japan they buy them.

“Some of the products exhibited this year are of standard. But I can tell you that some of the products are better than foreign qualities. And I can tell you that some shoes made in Aba are branded made in Japan just to gain the market and nobody has disputed the quality, and it has to do with orientation,” he said.

He boasted that he is aware of a lady here in Nigeria, who makes and exports shirts to Marks and Spencer in United Kingdom. Because the quality of the production is very high. He pointed that tht because of the high quality of workshops like Marks and Spencer, anyone maybe willing to buy.

About the issue of enlightenment campaign for made in Nigeria goods, he said that the Ministry of Commerce has to partner PHCCIMA in the promotion of or in the encouragement of the purchase of Home made goods or getting people aware.

The Ministry of Commerce, or Government, he said, are, not in business, but the chambers which is the representative of the organised private sector, needs be allowed more participation in the campaign for Home made goods.

He stressed that PHCCIMA has access to all market operators and manufacturers, saying that if given the platform to carry out the campaign, it will achieve a high awareness range more than the government.

He revealed that by Wednesday December 23, 2009, when the Trade Fair will formally end, almost double of the present exhibitors are expected in the market, adding, that it has become almost a tradition in the Trade Fair where some exhibitors believe customers patronize them more towards the end of the Trade Fair in the preparation for Christmas celebration.

To this end, he said more products ranging from cars, boats, Generators, plough moulers and other products will be displayed. He hinted that some big market makers like Dangote, Grevok, Eastern Enamel Ware and others will hit the market.

Concerning security, there are plain and uniformed security operatives. The uniformed men, he said are organized by Medalion, to mount surveillance and monitoring of the market are noting that, the level of security is high, and exhibitors were happy to bring in expensive products to the market without fear.

Live entertainment was also part of this year’s Trade Fair where operators and buyers relax at the end of the day’s business.

When asked whether some of the Casino stands at the Trade Fair were part of his arrangements, he said no, saying that they (PHCCIMA) are not at the place to promote gambling, adding that such activity was not part of the objectives of the Trade Fair.

Some operators like Engr. Calistus Eziudu of Geopan Nig Ltd., who also spoke with The Tide, said he was there in the market to test-run products for customers before they carry it home.

Engineer Eziudu said since his company deals on generating sets, it was out of place to allow customers bear the risk of returning to the market should their purchased products fail at home.

Comparing this year’s edition of Trade Fair to that of last year, he subscribed to the fact that there was an improvement and an upward movement in terms of patronage.

The Geopan Nigeria Limited Engineer, who was full of praises for the organizers of the Trade Fair, explained that some people were not yet aware of the importance of Trade Fair due to lack of proper enlightenment campaign programme. According to him, some people only came to the market due to some jingles done by some private companies, and therefore, called on PHCCIMA to do more in the areas of publicity.

The sales executive of Medic Company Limited, Joy Awuamba who was of a different view, said the market performance was poor compared to that of last year.

Agwuanba said that the market, which has lasted about nine days as at Friday last week has little or nothing to show for it.

The sales executive officer of Medic Company Limited, said though her products (security gadgets) are not a selling, blamed the low patronage on the yet-to be paid workers’ salaries and bonuses for the month.

She pointed out that her company reduced sales to almost 40 per cent discount but all to no avail.

Oku Perkins, who shared this view of low patronage with his colleagues, said that the economic hardship, has affected negatively on that people’s purchasing power.

Perkins called on the organizers of the Trade Fair not to allow it coincide with any government’s function. He argued that Friday sales was very low due to the CARNIRIV, saying that people also went there to buy as some exhibitors were reportedly seen at the venue.

In the area of s tall allocation, he regretted that the organizers take a cut-t hroat of about N400-N500 per square metre. He said that the organizers should reduce it so that more exhibitors can come to the market.

The challenges in the Trade Fair he said, was lack of convenience, accommodation for exhibitors. He lamented that exhibitors in the market go miles in order to have themselves “cleaned up” and as well get dressed for the next day’s assignment.

Emiola Naturalist Care Limited, who also occupied about 120 square metres at Isaac Boro Park, venue for the 5th edition of Port Harcourt International Trade Fair, lamented that after paying upto N60,000, (electricity inclusive) for the space he booked for, the trade fair was not provided with light as promised by the organizers of the trade fair.

Speaking to The Tide, the company’s Principal Consultant, Mr Ayobami Adejare, noted that the company’s participation in the next year’s exhibition will be determined by a

strong promise by the organizers to improve on the area of power provision.

Mr Adejare, regretted that after paying such a huge sum, the company still spends over N2,000 on daily basis to fuel the generating set in order to power its space at the trade fair.

He also intimated the organizers on the need to do more on promo and announcement. He said that lack of enough promo and announcement was part of the setback the trade fair suffered this year, saying that people only started coming to the market after some companies went on air.

The product champion of Oceanic Bank Plc, Mr Sylvester, agree that there is low turn out of customers in this year’s edition of trade fair. He said over the years, turn out of customers have been encouraging, but could not say why this year was a different ball game.

He also admitted that customers still patronised the bank and others despite the low performance of the market.

Business

Paper Industry’s Economic Contribution Hits N398bn

Published

4 days ago

April 22, 2024

The Tide

The contribution of the paper industry rose to N398.8billion in 2023 from N356billion it recorded in 2022.
Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr. Musa Yusuf, disclosed this in a report released to mark the inauguration of World Envelopes Day in Lagos.
Marking the event, which also commemorated the 50th anniversary of envelope manufacturing firm, FAE Limited, Yusuf stated that the paper industry has a profound economic impact across all sectors of the economy.
He, however, noted that the growth in digital technology had greatly disrupted the sector, especially as a mode of communication.
“As of 2023, the value of the Nigerian paper industry was N398.8billion naira, according to the National Bureau of Statistics.
“The value was N365bn in 2022; N363 billion in 2021; and N255billion in 2020. This is a significant contribution to our GDP. However, when compared to the size of our economy, which is estimated at N230trillion as of 2023, it is still very small”, the CPPE boss stated.
Yusuf said the paper industry had been largely in recession because of the digital technology disruptions and other macroeconomic headwinds, especially relating to exchange rate depreciation, forex liquidity crisis and high cost of fund and energy cost escalation.
He emphasised that the paper industry had a profound economic impact across all sectors of the economy, which underscored the need for government intervention in the sector.
In her opening remarks, the Managing Director of FAE Limited, Funlayo Bakare, described World Envelopes Day as the brainchild of the company, which sought to set aside April 16 as a day to celebrate the fundamental role envelopes play in daily communication.
“As we celebrate our golden jubilee, we are delighted to announce the inauguration of World Envelopes Day, to be celebrated annually on the 16th day of April.
“This is a pioneering initiative by FAE Ltd in accordance with our leadership position in the sector.
“The establishment of World Envelopes Day is to raise awareness about the importance of envelopes in various aspects of human endeavour, including personal correspondence, business transactions, and creative expressions”, she said.
The Publisher of The Guardian Newspaper, Maiden Ibru, who chaired the occasion, stressed the need to strike a balance between digitalisation and physical paper production, especially due to the indispensable role paper plays in cultural preservation.
Nigeria once had three paper mills: the Nigeria Paper Mill Limited, located in Jebba, Kwara State; the Nigerian Newsprint Manufacturing Company Limited, Oku-Iboku, Akwa Ibom State; and the Nigerian National Paper Manufacturing Company Limited in Ogun State.
The mills are no longer operational, and the country has had to depend on importation to make up for the shortfall.
The Asset Management Company of Nigeria has taken over the management of NNMC over unpaid debts.

Business

Aviation Union Threatens Strike Over Revenue Deduction

Published

4 days ago

April 22, 2024

The Tide

The Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) has said it would embark on industrial action if the Federal Government refuses to exempt aviation agencies from a directive that seeks to deduct 50 per cent from their Internally Generated Revenue (IGR).
ATSSSAN disclosed this in a communique issued by its National Executive Council (NEC) after its National Economic Council meeting in Ibadan, Oyo State.
The NEC, which had in attendance all 17 affiliates of ATSSSAN comprising all branch Chairmen, Secretaries, and national officers, reiterated calls for the exemption of the aviation agencies from the deduction of 50 per cent of their IGR under the Fiscal Responsibility Act.
The association said the agencies were not established for profit, hence stifling them of the required funds would jeopardise the effective performance of their safety and security mandates.
ATSSSAN warned that if the Federal Government insist on the deduction, it would compound the current financial state of the agencies, and “we may be forced to direct all aviation workers to down tools until the government reverses itself”.
Last year, the Federal Government directed the Office of the Accountant General of the Federation to immediately commence the presidential directives on a 50 per cent automatic deduction from the IGR of Federal Government-owned enterprises.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, had issued a circular titled, “Re: Implementation of the Presidential Directives on 50 per cent Automatic Deduction from Internally Generated Revenue of Federal Government Owned Enterprises (FGOEs)”.
According to the circular, all partially-funded Federal Government agencies and parastatals (receiving capital or overhead allocation from the Federal Government’s budget) should remit 50 per cent of their gross IGR, while all statutory revenues, like tender fees, contractor’s registration, and sales of government assets, among others, should be remitted 100 per cent to the sub-recurrent account.
ATSSSAN stated its apprehension over what it perceives as deliberate efforts by certain private airlines to stop their employees from forming labour unions.
Citing Section 40 of the Nigerian Constitution and international labor norms, the association contends that such actions constitute a violation of workers rights.
The statement, however, did not specify the airline operators suppressing workers from joining unions.
Part of the statement read, “The NEC-in-session calls on all employers in the private sector in the aviation industry to respect collective bargaining agreements in order to avert industrial crises at the workplace.
“NEC-in-session was seriously disturbed by the continuous willful acts by some private airlines towards frustrating the unionization of their employees, contrary to the letters and spirit of Section 40 of the Constitution of the Federal Republic of Nigeria and relevant international conventions and laws”.
The association, therefore, called upon the Federal Ministry of Labour and Employment to uphold and enforce employees’ rights to unionise within the aviation industry.
It urged the Minister of Aviation and Aerospace Development, Festus Keyamo, to orchestrate a dialogue involving all relevant stakeholders, including the non-compliant airlines and labour unions, under the auspices of the Labor Ministry.
At the meeting, other issues affecting workers, especially members’ welfare and working conditions, and the aviation industry at large were discussed, and positions and resolutions were taken.
The aviation group decried what it perceive as a dearth of avenues for career progression within government-owned aviation entities.

Business

NCDMB Rakes In $1m Return On NEDOGAS Investment

Published

4 days ago

April 22, 2024

The Tide

Management of the Nigerian Content Development and Monitoring Board (NCDMB) says it has received a cheque of $1 million from Nedogas Development Company Limited (NDCL).
A statement made available to newsmen by the Directorate of Corporate Communications and Zonal Coordination of the Board said the sum received was part of the return on investment (ROI) on one of its strategic investments.
The statement added that: “The cheque was presented by the Chairman of the company, Engr. Emeka Ene, when he visited the Nigerian Content Tower in Yenagoa, Bayelsa State, where he was received by the NCDMB’s Executive Secretary, Engr. Felix Omatsola Ogbe, and other members of the Board’s management.
“Nedogas Development Company Limited (NDCL) is a joint venture company between Xenergi Limited and NCDMB Capacity Development Intervention Company.
“As part of the project, Nedogas NDCL constructed and commissioned a 300 MMscfd Capacity Kwale Gas Gathering (KGG) and injection facility located in the Umusam Community, near Kwale in Delta State, Niger Delta, Nigeria.
“The KGG Facility was designed to handle stranded gas resources in Nigeria’s OML56 oil province by providing the opportunity for independent operators in the area to monetize natural gas from their fields through the gas gathering, compression, injection and metering infrastructure of the KGG for quick market access.
“Nedogas is one of the several strategic and successful investments of the NCDMB funded from the Nigerian Content Development Fund (NCDF), in line with the Board’s mandate to build capacity and catalyze local projects in the Nigerian oil and gas industry as enshrined under the Nigeran Oil and Gas Industry Content Development (NOGICD) Act”.
In his remarks, according to the statement, the NCDMB Executive Secretary stated that the success story of NEDOGAS at Kwale, Delta State, could be replicated in other oil and gas producing communities to minimise gas flaring, saying that Ogbe also declared the Board’s readiness to continue collaborating with the company.
“Their model should be extended to other parts of the country where gas flaring is continuing.They have shown that with the modular system, we can quickly remove flaring from our operations in Nigeria.
“The NCDMB had continued to receive briefings from its investment partners. We’re still waiting for them to come back with success stories. Some of them are near completion and have not started operations yet”, the NCDMB’s Executive Secretary said.
In his remarks, Chairman of NEDOGAS, Mr. Emeka Ene, conveyed the company’s excitement in returning part of the credit and profit, adding that it was a proof that the NCDMB’s investment was a success and they are getting back that investment, adding that the firm looks forward to further collaboration with the NCDMB to expand its scope.
Responding, the NCDMB boss said the Board was now doing effectively and practically and tangibly what it was set up for, saying its mandate was to impact the economy by direct interventions.
“That’s the way the economy can grow, improve the gas infrastructure in such a way that’s sustainable despite the tight economic conditions”, he said.
He added that, “the value propositions of the Nedogas project include total eradication of flared gas and conversation of environmental pollutants into products of value and creation of a strategic gas gathering hub and injection node for quick access to market for gas owners to monetize gas”.
Other benefits, according to Ogbe, include the provision of alternative gas supply to western flank of the OB3 line to add to the volumes of economic sustainability and increase in Nigeria’s Gross Domestic Product (GDP).
“The partnership with NEDOGAS is one of NCDMB’s 15 strategic investments geared towards actualizing the Federal Government’s aspirations in key areas of the oil and gas industry.
“Most of the projects were targeted at actualizing the Federal Government’s Decade of Gas programme.
“Some of NCDMB’s notable third-party investments include Waltermith’s 5000 barrels per day (bpd) modular refinery in Imo State, Azikel Group12,000 bpd hydro-skimming modular refinery in Gbarain, Bayelsa State, and Duport Midstream’s 2,500bpd modular refinery in Edo State.
“Other investments of the Board include Better Gas Energy for LPG terminal and gas distribution, partnership with Rungas Prime Industries Limited to establish a cooking gas cylinders manufacturing plant in Polaku, Bayelsa State, and Alaro City in Lagos and the partnership with Butane Energy to deepen LPG utilization in the North”, he stated.
The Executive Secretary also noted that there was the partnership with BUNORR Integrated Energy Limited in Port Harcourt, Rivers State, to produce 48,000 litres of base oil per day and partnership with the Nigerian National Petroleum Corporation (NNPC) Limited, Brass Fertilizer and Petrochemical Company Limited, and DSV Engineering to establish a 10,000 Ton Methanol Production Plant, Odioama, in the Brass Local Government Area of Bayelsa State.